3DX Receives $2,000,000 Capital Commitment from RB Capital
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Seattle, Oct. 12, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- 3DX Industries Inc. (DDDX) (the “Company” or “3DX”), a state of the art additive manufacturer specializing in 3D Metal Printing, announced today it received a $2,000,000 Commitment from RB Capital.
The Company has received the first $500,000 in the form of a 1 Year Convertible Promissory Note bearing an interest rate of 5% per annum. The Promissory Note has a fixed conversion price of $0.50 and cannot be converted until twelve months has passed. RB Capital has made a follow-on capital commitment in the amount of an additional $1,500,000 to be drawn down over the next two years.
Brett Rosen, managing partner of RB Capital Partners, Inc., says, "We have been looking for a solid 3D printing company to invest in for the past two years and finally found the right Company with DDDX. After conducting our due diligence, we like everything we found about the company, the share structure, and most importantly the management team!"
Deborah Braun, managing partner of RB Capital Partners, Inc., added, "We are thrilled to be working with 3DX Industries as we see tremendous value in their metal printing system approach to 3D printing. The opportunities in this space for continued innovation and growth via a variety of applications are immense, and we are happy to invest in a team that is well positioned to capture such opportunities in the market."
"Finding the right capital partner was essential to our strategy," stated Roger Janssen, CEO and Chairman of 3DX Industries, Inc. "3DX Industries now has the financial support and backing to continue its growth within the additive manufacturing space and aggressively expand its manufacturing opportunities.”
“I’m excited about our partnership with RB Capital,” added Nicholas Coriano, Board Member. “Brett and Deborah care about more than simply funding a business; they care about growing our business. That is an important and rare trait in Venture Capital. We’re extremely happy we found them and have RB Capital on our team.”
About the Company: 3DX Industries, Inc. is focused on the additive metal manufacturing segment within the manufacturing industry. 3DX has the capability of manufacturing a wide variety of products using its 3D metal printing system, 3D plastic printing as well as more traditional methods of precision manufacturing. 3DX offers additive and traditional manufacturing services as well as product design, engineering and assembly services to its customers.
About RB Capital: RB Capital Partners, Inc. is a private investment firm based in La Jolla, California who primarily invests in small private and publicly traded companies across a variety of sectors. RB Capital works with a selective few companies at any given time and makes long-term investments based on the management team and the overall business model.
Safe Harbor 3DX encourages those interested in our Company to rely only on information included in our filings. Statements released by 3DX Industries, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
For additional information please contact:
3DX Industries, Inc.
6920 Salashan Parkway Suite D-101
Ferndale WA 98248
Visit the 3DX Industries, Inc. web site at www.3dxindustries.com. Information included on the Company's website is not incorporated herein by reference or otherwise.
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